Reference: 20130105
Release date: 12 January 2015

Promoter – Financial Intermediary

OMNICANE

Location

Description

Development of an ethanol plant for biofuel purposes with CO2 capture. The key objective of this operation is to add value through the further processing of molasses, itself a by-product of sugar cane processing.

Objectives

This project forms part of an adaptation strategy to improve the competitiveness of the local sugar industry by ensuring a fully integrated approach to producing sugar and all of its by-products, thereby fostering the country's economic and social development and contributing to sustainable long-term development. The project encompasses the optimal use of natural resources, production of renewable energy as well as carbon dioxide capture, which are fully in line with EU policies.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 8 million

Total cost (Approximate amount)

EUR 23 million

Environmental aspects

An existing distillation facility is to be re-located from a town-centre location to an established industrial site with an existing biomass CHP facility, with additional investments to capture CO2 generated by the process to replace imported gas. There will be an on-site waste-water treatment plant and the final by-product will be converted into fertiliser in an associated plant. The nature and scale of the investment are such that it is unlikely that an environmental impact assessment (EIA) would have been required if the plant had been located within the EU. The position in respect of national legislation will be confirmed at appraisal.

Procurement

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

Status

Signed - 6/12/2013

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Mauritius Agriculture, fisheries, forestry